Yesterday the American indices dropped deeply. All three of them finished the session below their S1 support levels. However, the American indices are rising today. From the data front, the PPI in November will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
Yesterday was a really interesting and volatile session. First the S&P 500 rose significantly and tested the R1 resistance level. Then it dropped heavily and finished the session below the S1 support level, a little above 4670. However, the price is going up today. It’s already above the EMA 200. If the buyers continue generating firm demand, the price might rise above the Pivot Point and reach 4700. But if the bears counterattack, the price could fall below 4670.
NASDAQ 100
NASDAQ 100 was also very volatile yesterday. First the price rose significantly and tested the R1 resistance level. Then it dropped heavily and finished the session slightly above the S2 support level, below 16100. However, the price is going up today. If the buyers continue generating firm demand, the price might rise above the Pivot Point and reach 16200. But if the bears counterattack, the price could fall to 16000.
Dow Jones Industrial Average
The DJIA showed some great volatility yesterday as well. First the price rose above the R1 resistance level. Then it dropped heavily and finished the session below the EMA 200, slightly above the S2 support level. However, the price is going up today. It’s already above the EMA 200. If the buyers continue generating firm demand, the price might rise above the Pivot Point. But if the bears counterattack, the price could fall below 35600.
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